Paris Crossing, Indiana Property Taxes
The median property tax rate in Paris Crossing, IN is 0.81%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With the median home value in Paris Crossing at $106,900, the typical annual property tax bill is $795, significantly less than the national median of $2,690. Property taxes in Paris Crossing are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Paris Crossing's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Paris Crossing or another part of Jennings County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paris Crossing, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Paris Crossing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paris Crossing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paris Crossing to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Paris Crossing, Indiana
Property taxes in Paris Crossing, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paris Crossing is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Paris Crossing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paris Crossing estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Paris Crossing's effective property tax rate to other counties in Indiana and the national median. For comparison, the highest and lowest median property tax rates in Jennings County are both 0.81%, which aligns with Paris Crossing's rate. Understanding how these areas compare with Paris Crossing provides valuable insights into the varying tax landscape across Jennings County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paris Crossing Tax Rate
0.81%
Average Jennings County Tax Rate
0.87%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paris Crossing, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47270 | 0.36% | 0.58% | 0.81% | 1.17% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Paris Crossing, Indiana
In Paris Crossing, Indiana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Jennings County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Paris Crossing, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Paris Crossing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Paris Crossing is $106,900, with tax bills ranging from $453 at the 25th percentile to $2,261 at the 90th percentile. The zip code 47270 has the highest median tax bill of $795, which is also the lowest median tax bill in the area.
Average Paris Crossing Assessed Value
$106,900
Average Jennings County Assessed Value
$107,300
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paris Crossing, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47270 | $39,260 | $77,600 | $106,900 | $146,650 | $209,720 |
Source: Ownwell
Property Tax Bills Across Paris Crossing, Indiana
In Paris Crossing, located in Jennings County, IN, property tax bills are determined based on the assessed value of a home. The median home price in this area is $106,900. Property taxes are calculated by applying the local tax rate to the assessed value of the property. Factors such as property size, location, and improvements can influence the assessed value, which in turn affects the tax bill. Homeowners in Paris Crossing can expect varying tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $453, while at the 75th percentile, it rises to $1361. Those at the 90th percentile face a tax bill of $2261. Compared to the national median property tax rate of 0.99%, Paris Crossing's property tax bills reflect the local economic conditions and property values. This variability in tax bills can significantly impact homeowners, influencing their annual budgeting and long-term financial planning.
Average Paris Crossing Tax Bill
$795
Average Jennings County Tax Bill
$904
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Paris Crossing, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47270 | $268 | $453 | $795 | $1,361 | $2,261 |
Source: Ownwell